NEWS
SEC Commits to Promoting Transparency, Investor Trust – Agama
By Tony Obiechina, Abuja
The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has stressed the Commission’s commitment to promoting transparency, investor confidence, and adherence to international best practices in financial reporting.
Agama emphasized that the transition to market valuation is crucial for ensuring that asset values accurately reflect real-time market conditions, thereby strengthening fair value reporting and investor trust. Speaking in an interview weekend, Dr. Agama outlined key modalities guiding Nigeria’s transition to the market-to-market (MTM) valuation of assets in the fixed income space of the capital market adding that the policy was a result of engagements with market participants. “Timelines have been carefully considered, you know, especially with the concerns being raised by market participants. For us at the SEC, it is important that while we try to introduce new rules and regulations, we also listen to the market and say, okay, how do we meet, how do we meet at the junction where we can all agree to move forward?He noted that the October 2, 2025, deadline for the submission of implementation plans would enable the Commission to assess each institution’s preparedness and capacity, while the September 2027 deadline remains the target for full transition to IFRS 9.“Requesting for implementation plans is not a bureaucratic exercise—it’s to gauge capacity, identify challenges, and meet operators at the point where we can all achieve compliance with one purpose and one goal,” Agama said.“Equity funds are already reported at fair value. The aspect of Fund Management that was not aligned with international best practice was in the Fixed Income Funds space and that is what this policy alignment covers.“Nigeria has come of age, and we must be seen to be doing things according to global standards. IFRS 9 requires market-to-market valuation of assets, and we cannot be left behind among the committee of nations. ”He added that the reform would ensure that Nigerian assets are comparable globally, allowing investors to assess market performance more accurately.“Our goal is to create a market that is internationally competitive,” he stated, adding, “Adopting IFRS 9 enables ease and compatibility among assets from different nations, clearly positioning Nigeria within the global market space.”Responding to criticisms that the shift to market valuation could expose investors to short-term volatility, Dr. Agama said the move is intended to strengthen, not destabilize, the market.“Some have expressed concerns about volatility, but our intention is not to disadvantage Nigerian investors,” he clarified. “It is to expose them to global standards and transparency. Over time, as the market adjusts, these concerns will ease off and everyone will benefit from a more transparent and credible system.”Beyond IFRS 9, the SEC is also leading Africa in adopting the International Sustainability Standards Board (ISSB) framework. Dr. Agama revealed that Nigeria was among the first countries to accept and begin implementing the ISSB standards, emphasizing their importance for climate and sustainability disclosures.“We pride ourselves as performers—first among nations to accept and adopt the ISSB standards. But we are not oblivious of our contextual issues. We are taking a gradual approach so that our companies are not unduly burdened.”He added that the Commission’s objective is to implement standards that attract rather than restrict capital.“We will not implement standards that will shut companies out of capital. Instead, we are implementing those that will help bring in capital and promote sustainable growth,” he affirmed.Going forward, Dr. Agama expressed optimism about the Nigerian capital market’s performance in the final quarter of the year, citing the government’s macroeconomic reforms and the enactment of key laws such as the NIIRA 2025 and ISA 2025 as catalysts for stability and investor confidence.He noted that “markets do not operate in a vacuum, they thrive on stability. With the micro- and macro-economic stability being championed by President Bola Ahmed Tinubu, the market is positioned for significant growth. The NIIRA 2025 is a game changer that provides the framework for sustainable expansion.”The SEC Boss concluded that the SEC’s ongoing reforms, particularly the IFRS 9 transition and the adoption of sustainability standards, are part of a broader agenda to globalize Nigeria’s capital market, enhance transparency, and ensure wealth redistribution through a more resilient financial system.“We are on a path of progress and growth. The President’s reform agenda is already taking shape, ensuring that Nigeria’s capital market becomes a global reference point for transparency, regulation, and investor confidence.”NEWS
Adeniyi, JAMB Registrar Seek Operational Synergy
By Tambaya Julius, Abuja
The Nigeria Customs Service (NCS) and the Joint Admissions and Matriculation Board (JAMB) are considering areas of cooperation to improve their operations and strengthen service delivery.
The Comptroller-General of Customs, Adewale Adeniyi, received the JAMB Registrar, Professor Segun Aina, and his delegation at the Service’s Operational Headquarters in Maitama, Abuja, on Friday, October 16, 2026.
During the meeting, Adeniyi praised JAMB for its progress over the years, particularly its use of technology, timely release of examination results and improved placement of candidates into tertiary institutions.
He said the Board’s adoption of technology had made its operations more efficient and improved the process of placing candidates in higher institutions.
“The improvement JAMB has recorded over the years, particularly through the integration of technology into its operations, is commendable,” Adeniyi said.
He expressed confidence in Aina’s ability to sustain the gains and urged the Board’s management team to support his leadership.
The Customs chief also welcomed JAMB’s offer to make its electronic facilities available to the Service.
He explained that Customs officers serving across the country sometimes need designated centres to sit examinations and carry out other official activities.
He said access to the facilities would make it easier for the Service to organise such exercises when necessary.
On JAMB’s request for operational vehicles, Adeniyi acknowledged the importance of transportation to the Board’s nationwide activities.
He said the Service would explore possible ways to assist, depending on available resources and the applicable framework.
Aina said the visit was aimed at establishing a working relationship between the two organisations and identifying areas of mutual support.
“We want to formally come and introduce ourselves. We recognise the important work the Nigeria Customs Service is doing and are aware of the operations you carry out,” he said.
The JAMB registrar disclosed that the Board serves about five million people annually, operates Computer-Based Test (CBT) centres across Nigeria and conducts examinations in more than 15 countries.
He added that JAMB provides electronic services to government agencies and professional bodies, noting that its nationwide operations require adequate vehicles to reach communities, including local government areas, for candidate verification and monitoring of examination standards.
Aina stressed that effective transportation was necessary to ensure proper supervision, protect the integrity of examinations and maintain compliance with established procedures.
Both organisations expressed their willingness to explore practical areas of cooperation, share available resources and support each other in addressing their operational needs.
NEWS
NLC Suspends FCT Indefinite Strike
The Nigeria Labour Congress (NLC), Federal Capital Territory (FCT) Council, has suspended its indefinite strike and directed all affected workers, particularly primary and secondary school teachers to resume work on Wednesday.
Chairman of the union in FCT, Knabayi Adalo announced the suspension in a communique issued in Abuja on Tuesday.
Adalo explained that the decision followed the conclusion of conciliatory talks between the labour union, the Nigeria Union of Teachers (NUT), the Management of the Federal Capital Territory Administration (FCTA), and the Federal Ministry of Labour and Employment.
He said that the resolutions were formally adopted at the end of an emergency State Executive Council (SEC) meeting held at the Labour House, Central Business District, Abuja.
According to him, the suspension was agreed upon in the spirit of social dialogue and industrial harmony following key concessions reached regarding teachers’ career progression and administrative directives.
“On vacancy provision for education officers, it was resolved that promotion vacancies for education officers will align with established positions declared by the FCT Education Secretariat.
“The council noted that an upcoming exit of directorate officers would clear the path for the upward mobility of eligible officers.
“Also, following approval from the FCT Executive Council and subsequent communication to the FCT Civil Service Commission on the 2025 promotion examination, a new date will be announced to allow qualified candidates to take the examination.
“Regarding the deployment of officers benefiting from the Harmonised Retirement Age for Teachers back into classrooms, stakeholders agreed to maintain the FCT Executive Council’s directive, stepping down the process until further notice,” he said.
Adalo, however, issued conditions to guarantee full compliance by authorities.
He said that the NLC would set up a dedicated monitoring committee tasked with enforcing the agreed terms within specified timelines.
He warned that any failure by the FCTA or relevant authorities to implement the agreements would trigger an automatic resumption of the strike without prior notice.
He informed workers who participated in the strike that the union had secured a binding agreement that no worker or teacher would face reprisals, penalties, or victimisation for participating in the industrial action.
He commended the resilience of FCT teachers and praised the solidarity displayed by affiliate unions, the Ministry of Labour, and the FCTA management during negotiations.
The NLC had on Oct. 7, directed all workers in the FCT Administration, including those in the private sector, to commence an indefinite strike over unresolved labour disputes and policy grievances affecting teachers. (NAN)
NEWS
APC Dismisses Alleged Plot to Assassinate Atiku
The All Progressives Congress (APC) Presidential Campaign Council (PCC) has dismissed allegations that the Federal Government is plotting to assassinate former Vice-President, Atiku Abubakar.
The council’s spokesperson and Minister of Solid Minerals Development, Dele Alake, described the allegation as grave in a statement issued in Abuja on Tuesday.
Timi Frank, a member of the African Democratic Congress (ADC), had alleged that the Federal Government was plotting to assassinate Atiku.
Atiku is the ADC’s presidential candidate for the 2027 general elections.
Alake challenged Frank to substantiate the allegation, urging security agencies to invite him for questioning and investigate the claim.
“This is a grave allegation that Frank must prove. We thus urge security agencies to invite him to substantiate the allegation,” he said.
He urged Frank to provide any information in his possession to facilitate a prompt investigation, stressing that every credible threat to life deserved serious attention.
Alake categorically denied any involvement by President Bola Tinubu or the APC-PCC in an alleged plot against Atiku or any opposition figure.
He also dismissed claims that security personnel attached to Atiku had been withdrawn, insisting that the former vice-president remained protected by the police and Department of State Services (DSS).
According to him, Tinubu recently directed security agencies to reinforce protection for presidential, vice-presidential, governorship and deputy governorship candidates nationwide.
Alake maintained that security arrangements for Atiku had never been compromised, adding that the former vice-president enjoyed two levels of state-funded protection.
“As a former vice-president of Nigeria, Atiku enjoys two levels of state-funded security protection. President Tinubu has increased security protection for him as a presidential candidate,” he said.
Alake described Tinubu as a statesman and committed democrat who recognised opposition politics as essential to Nigeria’s 27-year-old democracy.
He recalled that Tinubu had led opposition politics for 16 years before the Peoples Democratic Party (PDP) lost power in 2015.
The APC spokesperson described Frank’s allegation as opposition rabble-rousing intended to heighten political tension.
He accused some opposition figures, including Frank, of using open letters and social media posts tagging foreign leaders and international organisations to attract attention.
Alake warned that politicians and their supporters might make provocative statements and frivolous allegations as the 2027 election campaigns gathered momentum.
He urged political parties, candidates and supporters to make factual, responsible public statements and avoid remarks capable of triggering unnecessary tension.
“Let our political competition be peaceful, lawful, and focused on the big issues that matter to Nigerians, not character assassination or wild, baseless allegations,” he said. (NAN)


